Volker Wieland sees a need for action at the Fed (FAZ)

This Wednesday and Thursday the members of the Federal Open Market Committee (FOMC) get together discussing a rise in interest rate. Fed Chair Janet Yellen has already announced a rise in interest rates for sometime this year. According to Prof. Volker Wieland it's time the Fed raises the interest rate for the first time in nine years.

A normalization of monetary policy was overdue, he said to the "Frankfurter Allgemeine Zeitung" (FAZ).

FAZ: "Amerikas Notenbank zögert mit der Zinswende"